Technical Analysis
By Shayan
Last week, Ethereum displayed an interesting sign by surpassing the 100-day moving average, indicating the growing interest.
However, a significant hurdle lies ahead, represented by the 200-day moving average. A breakthrough at this level could reignite substantial demand in the market.
The Daily Chart
Upon inspecting the daily chart, a robust uptrend emerged from the crucial $1.5K support region, with buyers impulsively driving the price above the 100-day moving average at $1,7K. This surge revived hope and demand, evident in Ethereum’s price action over the past weeks, as it convincingly breached the 100-day MA with a notably large bullish candlestick.
Presently, ETH faces a pivotal obstacle at $1.8K, restricted by the 200-day moving average. A successful breakout above this level could result in a strong uptrend, targeting the solid resistance at $2K. However, given the substantial recent surge, the market might undergo a temporary correction before i
We współpracy z: https://cryptopotato.com/eths-biggest-challenge-before-2k-ethereum-price-analysis/
